Study On Financial Support On The Development Of Tour Industry In Hebei

Hebei province tourism industry enters a stage of rapid development in the21stcentury, tourism economy has become an important growth point in the nationaleconomy in Hebei province. Among the many factors that influence the developmentof tourism industry, this paper mainly studies the tourism industry financial supportfor the development of the problem.Based on the existing literature and research achievements, this paper analyzedthe mechanism of financial capital support and financial support policy on thedevelopment of tourism industry, and then theoretically verified the financial supportof the development of the tourism industry. Financial capital support is of bank creditand securities market, the paper summarizes the mechanism of them to support thedevelopment of tourism respectively. Bank credit capital affects the capital allocationof tourism industry through the capital formation mechanism, the financial interests ofcompetition mechanism, credit catalytic mechanism as well as supply and demandadjustment mechanism; securities market improves the management of tourismenterprises mainly through the stock mechanism, the bond mechanism and tourismindustry funds to optimize production factors of the tourism industry.Next, this paper analyzed the current situation of the tourism industry andfinancial development in Hebei province. Analysis section of the development of thetourism industry were from four aspects: the total income of the tourism industry, thenumber of tourists and tourism enterprises and supporting industry, giving analysis ofthe course of development of the tourism industry in Hebei Province in2000-2011,and pointed out the level of the existing tourism industry development and itsunreasonableness. The part of financial development analysis explained the financialsituation of the province to support the tourism industry from the financial capital andfinancial policies.This paper made empirical analysis on the basis of the theoretical analysis of thefinancial support for the development of tourism industry. Financial support data mainly selected financial capital index (FCI) to support because the financial policysupporting is less. Tourism industry development indicators selected macro indicatorstotal tourism revenue (TGI) and tourism (TN), and made cointegration test andGrainger Granger causality test on the three indicators, draw the conclusion that thefinancial support and the development of tourism industry are related, financialsupport and the development of tourism industry has one-way causal relationship.According to the above analysis this paper came to a conclusion: financial support inHebei province tourism industry development is insufficient, especially the financialpolicy support is not enough.Combined with the actual situation of Hebei Province, the author puts forwardthe policy recommendations of the financial support for the development of thetourism industry in Hebei Province, aiming to achieve financial capital and financialpolicy support for the development of the tourism industry. These recommendationsinclude innovation and diversification of tourism industry to cast financingmechanism, improve the financial capital to support tourism industrial development;perfect finance policy, increase financial support of tourism industrial development;enhance the tourism enterprise initiative, positive publicity and promotion, theinitiative for financial support.